Re:Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud
by lawn on Thursday May 17, 2018 @04:25PM
(#17095328)
> what does PoW-consensus blockchain ledger make possible that isn't possible without it?
Preventing double spends in a decentralized manner without a trusted third party. No other form of digital currency can do that.
There is a possibility that PoW can be replaced with some form of PoS (proof of stake) but it's not certain if it works well enough. Note that I consider both PoW and PoS backed ledgers cryptocurrencies.
> It's not a matter of what they've been better than status-quo broken finance systems.
They're better than everything at the examples I listed.
Preventing double spends in a decentralized manner without a trusted third party. No other form of digital currency can do that.
There is a possibility that PoW can be replaced with some form of PoS (proof of stake) but it's not certain if it works well enough. Note that I consider both PoW and PoS backed ledgers cryptocurrencies.
> It's not a matter of what they've been better than status-quo broken finance systems.
They're better than everything at the examples I listed.